Female-founded winery startup BOXT raises $9.35m to expand luxury brand of fine wine offerings

Female-founded winery startup BOXT raises $9.35m to expand luxury brand of fine wine offerings

Published: 28-10-2021 08:13:00 | By: Pie Kamau | hits: 464 | Tags:

BOXT, the female-founded, direct-to-consumer winery, announced it has raised $9.35 million in equity and debt funding to drive the continued expansion of its luxury brand of fine wine offerings. The round was led by Next Coast Ventures and joined by privately owned WX Brands, venture debt partner Silicon Valley Bank and multiple private individual investors.

Sarah Puil, Founder, BOXT: "Our goal is to be everyone's go-to glass of house wine. We’re excited to use this investment to expand our marketing to grow membership and brand awareness, fund technology development for reducing our carbon footprint and continue to research the best ways to provide a sustainable, luxury wine experience for our members."

Mike Smerklo, Co-founder and Managing Director, Next Coast Ventures: "Sarah was our Entrepreneur in Residence at Next Coast Ventures. When she first brought the idea to me, my immediate reaction was, 'No more new ideas. This is the one.' Since that time it has been amazing to watch the team at BOXT take this vision and turn it into a rapidly growing business that provides an amazing customer experience each and every month".

BOXT is a first-of-its-kind wine club, creating a luxury wine experience delivered directly to consumers' doorsteps in a gorgeous and countertop-worthy BOXT. BOXT reimagines how to enjoy a single glass of wine at home after a long day, solving the nightly “to-open-or-not-to-open” debate. With its on-tap wines that stay fresh for up to six weeks once opened, BOXT allows consumers to pour exactly as much or as little as they like, whenever they like.

Mike Lukan, CFO, WX Brands: “Sarah's passion to deliver a premium wine, directly and in the most eco-friendly and user-friendly format in the industry, is providing a terrific benefit for both new wine drinkers and long-time wine lovers. WX is incredibly excited to invest in and partner with Sarah and her great team.”

Grounded in its philosophy of simplifying fine wine, BOXT designs its eight single-batch, handcrafted wines based not just on varietals, like chardonnay or merlot, but on the tastes and textures wine drinkers gravitate to in a fine wine, offering something for everyone.